The dynamics of two ecologically independent species which are being harvested with
variable effort have been discussed. The dynamics of effort is considered separately. The local and global
dynamics of the system is studied. The existence of Hopf bifurcation with respect to the total cost of fishing
is investigated. The co-existence of species in the form of stable equilibrium point and limit cycle is
possible. The quasi-periodic behavior is also possible for some choices of parameters. An expression for
Optimum population level has been obtained.